Hillary Clinton is going after Wells Fargo

In a speech on Monday in Toledo, Ohio, Clinton attacked the bank
and used its recent accounts scandal as an example of
"egregious corporate behavior."

"Look at Wells Fargo, really shocking isn't it?" Clinton said.

"One of the nation's biggest banks bullying thousands of
employees into committing fraud against unsuspecting customers.
Secretly opening up millions of accounts without their consent,
even their knowledge, misusing personal information, and then
sticking customers with hidden fees."

Clinton also struck at Wall Street in general, saying that
nothing has changed since the financial crisis.

"It is outrageous that eight years after a cowboy culture on Wall
Street wrecked our economy that we are still seeing powerful
banker playing fast and loose with the law," said the nominee.

The Democratic presidential nominee also introduced a
proposal in a speech on Monday that would open up corporations to
being sued by customers who are wronged instead of ending in
arbitration.

Because of a clause in the agreement between Wells Fargo and its
customers, anyone who had an account opened without their
knowledge and wants to pursue legal action must enter into
arbitration with the bank instead of suing. Arbitration is
overseen by a mediator instead of a jury, and any settlement is
private.

The Clinton campaign said in a statement previewing the speech
the proposal will focus on "curbing the prevalence of fine-print
'forced arbitration' clauses in contracts that prevent workers
and consumers (including Wells Fargo customers) from bringing
legal action against companies who have harmed them."

According to a plan released by Clinton on Monday, the campaign
said that arbitration is unfair to average consumers.

"Arbitration can be a useful tool, for example, when
sophisticated companies mutually agree to use arbitration to
settle their disputes,"
said the plan. "But for consumers and employees given no
choice but to sign, such clauses too often tilt the playing field
toward the corporations that include them in the fine print of
contracts—while offering consumers and employees no way
out."

Essentially, Clinton is arguing that forced arbitration closes
the door to possible appeals by a wronged customer and does not
allow them to get access to a full jury trial.

"Even after Americans spent years working hard to recover from
the Great Recession, the culture of misconduct and recklessness
that preceded that crisis too often persists," the letter said.

Clinton will also go after Mylan Pharmaceuticals, the maker of
the EpiPen, which has faced criticism for increasing the cost of
the drug, which treats severe allergic reactions. The campaign
statement said Clinton will propose to "promote competition,
address excessive market concentration and the abuse of economic
power, and reinvigorate antitrust laws and enforcement."